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MNT-Halan, the Egyptian fintech, is considering an initial public offering on the Egyptian Exchange that could come as soon as this year, according to Bloomberg, citing people familiar with the matter.
The company is working with Citigroup and EFG Hermes on the potential listing and has held preliminary meetings with investors, the people said. The offering would cover only MNT-Halan's Egyptian unit, valuing that business at between $900 million and $1 billion, with its operations in Türkiye, the UAE and Pakistan kept outside the listed entity.
A spokesperson told Bloomberg no decision had been made, and that the company continued to assess strategic alternatives and possible listing venues.
The valuation range sits below the group's most recent mark, though that is to be expected given the listing would cover only the Egyptian business rather than the whole company. MNT-Halan reached a $1.4 billion valuation earlier this month in a round led by Al Ahly Capital, the investment arm of the National Bank of Egypt, a figure that captured its operations across Egypt, Türkiye, the UAE and Pakistan. The company first crossed the unicorn mark in 2023, when Abu Dhabi's Chimera took a stake of more than 20% for $200 million.
Founded in 2018 by Mounir Nakhla, MNT-Halan offers consumer and business lending, payments, e-wallets, savings, investments and e-commerce, serving customers through its app and a nationwide physical footprint. It became Egypt's first fintech unicorn in 2023 and has since expanded across Türkiye, Pakistan and the UAE through a mix of organic growth and acquisitions.
A listing would add to a building Egyptian IPO pipeline that includes state-affiliated names such as Banque du Caire and Misr Life Insurance, and would test investor appetite for high-growth tech businesses on the EGX at a time when Gulf IPO activity has slowed.
The obvious benchmark is Valu, the EFG Holding consumer-finance subsidiary that began trading on the EGX in June 2025 and drew Amazon onto its register as a 3.95% shareholder on day one. Valu listed via an in-kind dividend rather than a capital-raising IPO, a different structure to what MNT-Halan is contemplating, but its performance since has given the sector a confidence marker, with the stock having roughly doubled from its debut, lifting Valu's market cap by more than 40% to around $445 million (EGP 22 billion) by early 2026.
A strong MNT-Halan debut could push more private tech companies toward local capital markets rather than relying on private funding alone, much as Bosta is now lining up Egypt's first tech-logistics listing.
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